KPMG to Cut About 10% of US Audit Partners After Voluntary Retirement Push Failed
KPMG announced plans to cut approximately 10% of its US audit partners after years of voluntary early retirement schemes failed to attract enough participants. The firm informed its audit and assurance partnership during a Wednesday meeting that the partnership had grown larger than needed relative to current business levels. While the exact number was not disclosed, several dozen partners are expected to leave. The cuts are part of a broader multiyear strategy to align the size and skills of the team with the firm's audit platform capabilities.